Stelco Holdings Inc. (TSE:STL) to Post Q1 2024 Earnings of $1.35 Per Share, Cormark Forecasts

Stelco Holdings Inc. (TSE:STL) – Cormark lowered their Q1 2024 EPS estimates for shares of Stelco in a research note issued on Wednesday, May 1st. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $1.35 per share for the quarter, down from their prior estimate of $2.02. Cormark also issued estimates for Stelco’s Q2 2024 earnings at $1.04 EPS, Q3 2024 earnings at $0.92 EPS and FY2024 earnings at $4.28 EPS.

A number of other analysts have also recently commented on the company. Stifel Canada upgraded Stelco from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. National Bank Financial raised shares of Stelco from a “sector perform overweight” rating to an “outperform market weight” rating in a report on Thursday, February 22nd.

Stelco Price Performance

Stelco has a 52-week low of C$21.00 and a 52-week high of C$26.50.

Stelco (TSE:STL) last posted its earnings results on Wednesday, February 21st. The company reported C$0.16 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.16) by C$0.32. The firm had revenue of C$613.00 million during the quarter, compared to the consensus estimate of C$624.61 million.

Stelco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, March 1st were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, February 29th. This is a boost from Stelco’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of ∞.